Knox County Property Taxes
The median property tax rate in Knox County is 2.31%, which is significantly higher than the national median of 0.99% but slightly below the Illinois state median of 2.35%. With a median home value of $78,330 in Knox County, the typical annual property tax bill amounts to $1,699, which is notably lower than the national median of $2,690. Property taxes in Knox County are calculated based on the tax assessed value, which is generally lower than the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Knox County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Galesburg or another part of Knox County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Knox County Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
2.35%
Estimate Property Tax Bill
$4,700
Ownwell’s Knox County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Knox County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Knox County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Knox County, Illinois
Property taxes in Knox County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Knox County is 2.31%, which is significantly higher than both the Illinois state median and the U.S. national median of 0.99%. Local government entities within Knox County set these rates annually, and they can vary significantly between different areas within the county. Each year, Knox County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Alpha has one of the higher property tax rates in Illinois at 2.65%, while the city of Alexis boasts one of the lowest at 1.66%. Analyzing how Knox County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Knox County Tax Rate
2.31%
Average Illinois Tax Rate
2.35%
Average United States Tax Rate
0.99%
Property Tax Rates Across Knox County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Abingdon | 1.01% | 1.68% | 2.23% | 2.93% | 2.93% |
| Alexis | 0.21% | 0.22% | 1.66% | 2.15% | 2.25% |
| Alpha | 2.44% | 2.47% | 2.65% | 2.66% | 2.81% |
| Altona | 0.28% | 1.75% | 2.29% | 2.66% | 3.03% |
| Dahinda | 1.68% | 2.25% | 2.52% | 2.68% | 2.68% |
| Delong | 1.03% | 1.56% | 1.93% | 2.57% | 2.57% |
| East Galesburg | 1.08% | 1.59% | 2.04% | 2.38% | 2.49% |
| Elmwood | 0.29% | 1.64% | 1.98% | 2.41% | 2.74% |
| Farmington | 0.24% | 0.25% | 0.34% | 2.40% | 2.52% |
| Galesburg | 1.32% | 1.96% | 2.42% | 3.16% | 3.16% |
| Galva | 0.26% | 0.29% | 2.04% | 2.59% | 2.86% |
| Gilson | 0.24% | 1.32% | 1.96% | 2.36% | 2.56% |
| Henderson | 1.15% | 1.55% | 1.94% | 2.25% | 2.67% |
| Knoxville | 1.21% | 1.79% | 2.16% | 2.39% | 2.73% |
| La Fayette | 0.30% | 1.37% | 2.48% | 3.14% | 3.14% |
| Laura | 2.18% | 2.18% | 2.18% | 2.18% | 2.18% |
| London Mills | 0.28% | 1.11% | 2.26% | 2.87% | 2.91% |
| Maquon | 0.25% | 0.92% | 2.11% | 2.60% | 3.18% |
| North Henderson | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% |
| Oneida | 0.59% | 1.67% | 2.14% | 2.43% | 2.73% |
| Rio | 0.27% | 1.51% | 2.23% | 2.52% | 2.94% |
| Saint Augustine | 0.25% | 1.04% | 1.83% | 2.49% | 2.71% |
| St Augustine | 1.72% | 1.89% | 2.16% | 2.44% | 2.60% |
| Victoria | 0.29% | 1.57% | 2.29% | 2.79% | 2.94% |
| Wataga | 1.00% | 1.65% | 2.08% | 2.34% | 2.80% |
| Williamsfield | 0.27% | 1.46% | 2.10% | 2.49% | 2.83% |
| Woodhull | 0.13% | 0.25% | 0.27% | 1.38% | 2.77% |
| Yates City | 0.75% | 1.81% | 2.34% | 2.66% | 3.01% |
Source: Ownwell
Property Tax Assessment Values Across Knox County, Illinois
In Knox County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Knox County Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Knox County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Woodhull has the highest median tax bill at $7,975, while St. Augustine has the lowest at $416. Being aware of these valuation processes in Knox County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Knox County, Illinois
Source: Ownwell
$24,360
$1,314,377
$2,604,393
Average Knox County Assessed Value
$78,330
Average Illinois Assessed Value
$194,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Knox County, Illinois
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Abingdon | $26,766 | $42,375 | $67,800 | $96,645 | $137,532 |
| Alexis | $138,252 | $202,350 | $216,420 | $2,034,630 | $3,178,685 |
| Alpha | $123,624 | $156,420 | $160,170 | $168,900 | $190,914 |
| Altona | $39,348 | $51,742 | $80,325 | $120,472 | $396,372 |
| Dahinda | $90,846 | $156,585 | $264,660 | $397,590 | $554,712 |
| Delong | $18,948 | $29,760 | $41,790 | $52,770 | $65,112 |
| East Galesburg | $30,840 | $44,250 | $82,230 | $134,040 | $288,174 |
| Elmwood | $72,300 | $90,120 | $112,620 | $135,495 | $1,043,755 |
| Farmington | $126,954 | $164,362 | $547,620 | $1,810,105 | $2,944,353 |
| Galesburg | $19,800 | $38,940 | $66,720 | $106,110 | $166,338 |
| Galva | $56,058 | $75,240 | $141,990 | $942,390 | $1,996,868 |
| Gilson | $31,956 | $61,380 | $117,690 | $223,500 | $1,161,637 |
| Henderson | $38,070 | $53,940 | $80,640 | $109,065 | $150,006 |
| Knoxville | $54,282 | $76,710 | $110,700 | $153,300 | $227,280 |
| La Fayette | $18,756 | $28,028 | $65,100 | $187,125 | $695,837 |
| Laura | $99,870 | $99,870 | $99,870 | $99,870 | $99,870 |
| London Mills | $29,292 | $50,670 | $80,985 | $197,228 | $1,197,202 |
| Maquon | $26,070 | $45,690 | $84,870 | $237,000 | $1,678,054 |
| North Henderson | $760,239 | $760,239 | $760,239 | $760,239 | $760,239 |
| Oneida | $45,690 | $63,210 | $93,660 | $137,130 | $285,630 |
| Rio | $41,082 | $69,885 | $113,130 | $216,885 | $1,206,126 |
| Saint Augustine | $19,992 | $34,380 | $66,510 | $184,935 | $1,624,973 |
| St Augustine | $8,304 | $14,325 | $24,360 | $34,395 | $40,416 |
| Victoria | $25,155 | $38,002 | $59,385 | $125,340 | $361,890 |
| Wataga | $43,518 | $63,045 | $88,110 | $133,170 | $228,492 |
| Williamsfield | $39,540 | $60,090 | $87,660 | $152,580 | $803,529 |
| Woodhull | $243,480 | $524,928 | $2,604,393 | $4,235,594 | $7,148,844 |
| Yates City | $45,255 | $67,830 | $100,200 | $150,458 | $291,219 |
Source: Ownwell
Property Tax Bills Across Knox County, Illinois
In Knox County, IL, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The county's property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence this calculation, including local tax rates, property assessments, and any applicable exemptions. For homeowners, this means that the amount they pay in property taxes can vary significantly depending on their property's assessed value and location within the county. For instance, the median home price in Knox County is $78,330, with tax bills ranging widely. At the 25th percentile, homeowners might see a tax bill of around $922, while those at the 75th percentile could pay up to $3,001. At the higher end, the 90th percentile tax bill reaches $5,074. Notably, the city of Woodhull has the highest median tax bill at $7,975, whereas St. Augustine has the lowest at $416. These variations highlight how property taxes can significantly impact homeowners' finances across different areas within Knox County.
Average Knox County Tax Bill
$1,699
Average Illinois Tax Bill
$4,715
Average United States Tax Bill
$2,690
Property Tax Bills Across Knox County, Illinois
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Abingdon | $436 | $797 | $1,397 | $2,155 | $3,210 |
| Alexis | $2,624 | $4,176 | $4,662 | $4,686 | $7,160 |
| Alpha | $3,138 | $4,076 | $4,152 | $4,264 | $5,296 |
| Altona | $683 | $1,127 | $1,877 | $2,893 | $5,057 |
| Dahinda | $1,655 | $3,428 | $6,137 | $9,756 | $13,098 |
| Delong | $261 | $446 | $748 | $1,021 | $1,384 |
| East Galesburg | $387 | $801 | $1,495 | $2,608 | $6,319 |
| Elmwood | $1,214 | $1,853 | $2,264 | $3,244 | $4,045 |
| Farmington | $1,672 | $2,729 | $4,126 | $5,611 | $10,320 |
| Galesburg | $396 | $780 | $1,486 | $2,556 | $4,075 |
| Galva | $896 | $1,452 | $2,689 | $5,163 | $7,063 |
| Gilson | $564 | $1,130 | $2,056 | $3,401 | $5,621 |
| Henderson | $497 | $877 | $1,589 | $2,082 | $3,236 |
| Knoxville | $929 | $1,459 | $2,184 | $3,319 | $4,789 |
| La Fayette | $318 | $638 | $1,480 | $2,825 | $7,277 |
| Laura | $2,175 | $2,175 | $2,175 | $2,175 | $2,175 |
| London Mills | $417 | $1,118 | $1,824 | $3,430 | $6,104 |
| Maquon | $377 | $861 | $1,858 | $3,628 | $6,435 |
| North Henderson | $1,443 | $1,443 | $1,443 | $1,443 | $1,443 |
| Oneida | $730 | $1,193 | $1,964 | $3,156 | $4,726 |
| Rio | $665 | $1,414 | $2,362 | $4,262 | $6,492 |
| Saint Augustine | $297 | $561 | $1,182 | $3,131 | $6,535 |
| St Augustine | $176 | $266 | $416 | $566 | $656 |
| Victoria | $490 | $768 | $1,246 | $2,691 | $4,585 |
| Wataga | $718 | $1,122 | $1,800 | $2,794 | $4,353 |
| Williamsfield | $533 | $1,048 | $1,882 | $3,120 | $4,980 |
| Woodhull | $931 | $4,869 | $7,975 | $11,779 | $18,876 |
| Yates City | $842 | $1,394 | $2,259 | $3,649 | $5,428 |
Source: Ownwell